Join        Login             Stock Quote

Biogen Idec (BIIB) Initiated as 'Buy' by Brean Capital, PT $184

 November 21, 2012 10:19 AM

(By Balachander) Biogen Idec Inc. (NASDAQ: BIIB) shares were initiated with a "buy" rating and price target of $184 by Brean Capital LLC.

Over the near term, BIIB's share price is likely to be driven by how investors contemplate the launch of the oral MS drug BG-12, market opportunity for hemophilia treatments, and upcoming data for Dexpramipexole in ALS, the brokerage said.

In 2011, Brean Capital said, two pivotal phase III trials for BG-12 in MS created an inflection point that took the market value of the drug from hundreds of millions to billions. "With BG-12, BIIB becomes the leading MS company on the globe," the brokerage wrote.

[Related -Biogen Idec Inc (BIIB): Top Reasons To Own Biogen Idec]

"Together with Tysabri, Avonex and its Lingo development program, BIIB's broad MS portfolio addresses the needs of any MS patient, creating a daunting challenge for any competitor to counter detail," Brean Capital said.

Brean Capital expects BIIB to enter 2013 preparing regulatory filings in hemophilia and ALS that each represent potential $1b+market opportunities not yet included in its profit forecasts.

"We believe 2013 will be a transformational year for BIIB," the brokerage said. "We believe the shares will continue to outperform over the next 12 months on the stability of BIIB's MS base business while the late stage pipeline sets the stage for accelerated top- and bottom-line growth beyond 2013."

The stock, which has been trading in the 52-week range of $107.41 to $157.18, added 0.72 percent to trade at $149.22 on Wednesday.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.